Price for Dyes; Pigments and Preparations Based Thereon in Nigeria - 2023
Contents:
- Price for Dyes; Pigments and Preparations Based Thereon in Nigeria (CIF) - 2023
- Price for Dyes; Pigments and Preparations Based Thereon in Nigeria (FOB) - 2022
- Imports of Dyes; Pigments and Preparations Based Thereon in Nigeria
- Exports of Dyes; Pigments and Preparations Based Thereon in Nigeria
Price for Dyes; Pigments and Preparations Based Thereon in Nigeria (CIF) - 2023
In December 2023, the average import price for dyes; pigments and preparations based therea amounted to $9,833 per ton, jumping by 27% against the previous month. In general, the import price, however, showed a mild contraction. The pace of growth was the most pronounced in March 2023 when the average import price increased by 131% month-to-month. The import price peaked at $11,544 per ton in January 2023; however, from February 2023 to December 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was the Netherlands ($58,069 per ton), while the price for China ($1,678 per ton) was amongst the lowest.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was attained by India (+18.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Dyes; Pigments and Preparations Based Thereon in Nigeria (FOB) - 2022
The average export price for dyes; pigments and preparations based therea stood at $2,547 per ton in 2022, with a decrease of -17.9% against the previous year. Overall, the export price faced a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the average export price increased by 30%. The export price peaked at $10,335 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Ghana.
From 2012 to 2022, the rate of growth in terms of prices for Benin amounted to +330.8% per year.
Imports of Dyes; Pigments and Preparations Based Thereon in Nigeria
In 2022, overseas purchases of dyes; pigments and preparations based therea decreased by -14.9% to 3.6K tons, falling for the second consecutive year after two years of growth. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +6.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -20.3% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 51% against the previous year. As a result, imports reached the peak of 4.6K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of dyes; pigments and preparations based therea expanded significantly to $22M in 2022. In general, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +14.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -9.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 63% against the previous year. As a result, imports reached the peak of $25M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Dyes; Pigments and Preparations Based Thereon in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 8.9 | 15.4 | 11.9 | 11.8 | 9.9% |
| China | 2.6 | 3.5 | 3.9 | 7.2 | 40.4% |
| South Africa | 0.4 | 0.9 | 1.0 | 1.2 | 44.2% |
| South Korea | 0.2 | 0.4 | 0.2 | 0.2 | 0.0% |
| Ireland | 0.1 | 0.2 | 0.2 | 0.1 | 0.0% |
| Others | 3.0 | 4.2 | 3.7 | 2.0 | -12.6% |
| Total | 15.1 | 24.7 | 20.9 | 22.4 | 14.0% |
Top Suppliers of Dyes; Pigments and Preparations Based Thereon to Nigeria in 2022:
- India (1986.2 tons)
- China (1131.2 tons)
- South Africa (188.0 tons)
- Ireland (81.3 tons)
- South Korea (52.2 tons)
Exports of Dyes; Pigments and Preparations Based Thereon in Nigeria
In 2022, exports of dyes; pigments and preparations based therea from Nigeria surged to 18 tons, picking up by 123% on the previous year's figure. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 384%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of dyes; pigments and preparations based therea skyrocketed to $46K in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 482%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Dyes; Pigments and Preparations Based Thereon in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 0.6 | 0.6 | 4.1 | 46.5 | 326.4% |
| India | 4.5 | 3.5 | 20.8 | N/A | 115.0% |
| Benin | N/A | 0.2 | N/A | N/A | 0% |
| Others | 0.2 | 0.1 | 0.6 | N/A | 73.2% |
| Total | 5.3 | 4.4 | 25.4 | 46.5 | 106.2% |
Top Export Markets for Dyes; Pigments and Preparations Based Thereon from Nigeria in 2022:
- Ghana (18.3 tons)
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